- AUD/USD continues to struggle below 200-DMA as markets remain cautious ahead of crucial US non-farm payrolls data.
- Concerns over Chinese economic slowdown continues to weigh on the Aussie.
- Data released earlier today showed Caixin China Services PMI for May, fell short of expectations and came in at 51.2 as compared to 52.0 expected and April's 51.8.
- US monthly jobs number would now be the key determinant of the pair's near-term direction.
- 200-DMA at 0.7253 is immediate resistance, beyond which the pair is likely to rally to 0.73 and then 0.7330 (May 18th highs).
- On the downside, 0.7200 handle remains immediate support to watch for. Break below is likely to drag the pair towards nearly 3-month lows support near 0.7150-45 zone.
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